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China, U.s. Finalize Rental Of 2 Pandas By National Zoo

WASHINGTON, D.C. — Chinese officials in the United States announced Sunday that the government in Beijing has given final approval to lend two giant pandas to the National Zoo.

As outlined in a letter of intent signed April 7, the deal calls for the Smithsonian Institution, which operates the zoo, to donate $1 million a year for 10 years to China to essentially rent the Pandas.

"The two sides are firmly committed to the survival of giant pandas and their habitats through habitat protection, scientific research, public education, captive breeding, professional training and other conservation biology measures," the Chinese Embassy said in a statement.

Officials on both sides of the deal say the money the Smithsonian will give to China for one male and one female "captive-born pre-productive" giant pandas will go for panda research and conservation.

China will retain ownership of the new pandas, as well as any offspring.